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Multiple servers needed for Additional Polling Engines

I have been tasked with gathering hardware needs for our Orion install. With the amount of elements that we have, it was recommended that we have 4x APEs in our environment. Does each APE have to be on a separate physical(or virtual) server or can we have multiple APEs running on one server whether it be physical or virtual. If so, what are the benefits or drawbacks of housing multiples APEs on one server.

Thanks!